As people manipulate LINE too much. LINE is a MLP, which has tax advantage over LNCO.
We know they manipulate LINE。 Good thing is LINE pays 11% yield， that's way higher than a hedge fund could make in a year， just hold your shares you know who wins in a while ：）。
I would expect all yield to maturity will be similar for LINE bonds, so pay off an effective 13%+ yield to maturity bond with 10% stock yield, and strengthen the balance sheet make sense to me.
The bond they are going to buy is traded at around $85 as of today, should be a very good discount for a bond with coupon rate of 6.5%, and they know they will not default. Current 10 year note rate is 2.23%, ^TNX you can find from yahoo financial site.
Also see below: